5. Connected Corporate Networks I: Definitions, Metrics and Empirical Results from the Greek Telecommunications Sector

Since the 1960s, the development of graph theory has made it possible to improve the modelling and visualization of the relationships which are further developed in corporate networks. The latest developments in computational graph theory have introduced new techniques for exploring complex-structured networks. Despite the criticism followed by the increase of research interest (Mizruchi, Annual Review of Sociology 22:271–298, 1996; Zajac, The Academy of Management Journal 31:428–438, 1988), interlocks remain a strong indicator of network links between companies (Mizruchi, Annual Review of Sociology 22:271–298, 1996). This study endeavours to focus on the ability of corporate interconnection analysis to record the complexity and composition of corporate networks, using population data from the Greek ecosystem. In addition, our study of board interlock networks in Greece will provide a solid base for the investigation of a wide range of questions such as power concentration, anti-trust investigation, corporate knowledge transfer, macroeconomic implications and business strategy. The last section of this paper attempts to apply a demonstration of a board interlock network across a particular economic sector of Greece, where our findings provide sufficient evidence of interconnectivity.